2007 - JAMB Accounting Past Questions and Answers - page 5

Use the information below to answer questions Given: Returns inwards............N1500 cash.......................N1550 Discount...................N2850 Capital....................N3800 Debtors....................N900 Sundry.....................N? The value of sundry expenses is 150% of returns inwards plus 50% of debtors. How much is sundry expenses?

Use the information below to answer questions Given: Returns inwards............N1500 cash.......................N1550 Discount...................N2850 Capital....................N3800 Debtors....................N900 Sundry.....................N? The value of sundry expenses is 150% of returns inwards plus 50% of debtors The total of the trial balance is?

If Mr. Ajasin paid his creditors N5000 out of N20 000 owed, what would be the effect of this transaction on the accounting equation?

One of the benefits of book-keeping records is that they?

Given: Bank overdraft..............N2000 Cash........................N2000 Furniture...................N4000 Calculate the total amount on the credit side of the trial balance?

A sole trader purchased goods in cash worth N2000 at 2% discount and made a cash sale of N1000 at the same rate of discount. Determine the amount of discount allowed?

If cheques of N40 000 were received but a cheque of N8 000 was dishonoured, the amount owed was

If the discount allowed is 2.5% of sales, calculate the closing balance in the sales ledger account

Given:

Calculate the surplus income.

Use the information below to answer questions. Entrance fees.........................N1200 Subscriptions(including N850 arrears).N4310 Donations received....................N1500 Proceeds from sales...................N2300 Total payments........................N8200 Depreciation..........................N2100 Closing cash balance..................N1110 The club deposited 200% of the closing cash balance in he bank during the period. Determine the opening cash balance of the